Friday, January 6, 2012

ATM and Debit Cards Scams - DBS / POSB bank - Unauthorised Withdrawal

For the past few days, there have been reports of unauthorised withdrawal from some DBS/POSB bank users' bank accounts.

This picture belongs to one of the victims, Amanda Goh.

The money was used or taken in Malaysia. Each transaction also deducted SGD $5 from the owner's account since it was done in overseas as a service charge by the bank(s). The owners' original ATM/debit cards were still with them.

There are some possible reasons why this has happened. The bank or merchant stores that accept the card payment may be hacked, or maybe, someone has duplicated the ATM / debit card, possibility during the process of payment.

All POSB/DBS bank users are advised to check their bank accounts daily for the next few days or weeks until any security loophole is being found and fixed.

The DBS / POSB bank has announced that they would return the "stolen" money back to the owners and thus users are advised not to panic and start withdrawing all money from their bank accounts.

Should anyone suspect that his/her ATM or debit cards may have been compromised should contact the bank immediately on 1800-220-1111 or visit any DBS/POSB branch.

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